The disposition of state properties for privatization along with cash dividends and other forms of revenue raised from still unsold government assets generated a total of P554.442 million in the first nine months of 2017, according to a report of the Privatization and Management Office (PMO) to the Department of Finance (DOF).

Gerard Chan, the acting Chief Privatization Officer, reported to Finance Secretary Carlos Dominguez III that the PMO remitted a total of P554, 442,101.69 to the Bureau of Treasury (BTr) as of September 30, 2017 exclusive of authorized retention amounts of P22.8 million.

Recently, the PMO turned over to the BTr Landbank Cheque No. 149416 dated October 19, 2017 for the amount of P289, 485,684.91. This is the biggest amount remitted by PMO so far from January-September 2017 collection, which came from the sale of shares in Asean Finance Corporation and special cash dividend from Semirara Mining Corporation.

Besides the proceeds from this sale, PMO remittances for the January-September 2017 period also came from the proceeds of lease, CARP-covered landholdings, interest income and other disposition.

Total PMO remittances to the government reached P286.4 million in July-December 2016 period, or the first six months of the Duterte administration.